IKEA predicts co-living future

Given the country's population is set to reach over 70 million in 2117 (up 46 million from the current 24 million), the report suggests communities of the future will start to focus on 'co-living' with shared living spaces and ownership.

"The rise of the so-called sharing economy, coupled with the planet's rapidly depleting resources and fast-growing population, is forcing us to rethink the concept of ownership and sharing in our everyday likes, including in housing."

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Aussies are divided about living in a shared community though, with more than half believing it won't happen in their lifetime.

However, 25 percent of Australians would be open to sharing their living room and laundry; 57 percent would be willing to share a garden, with 65 percent open to sharing fresh, home grown, produce; and 25 percent would be keen to share cooking duties with others in the community.

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In an effort to give Australians a glimpse into the co-living environment of our futures, IKEA recently showcased the critically-acclaimed Growroom – a spherical greenhouse where plants are stacked in tiers to maximise space and water flow.

“There’s a very real chance that as a society, we may not be that realistic with our vision of the future of our society,” said Kate Ringvall, Sustainability Manager at IKEA Australia. “A population growth of this magnitude will most likely result in the rise of new cities, as housing developers begin to build upwards to make the most out of the space available.”